ARM (NASDAQ:ARM) Trading Down 1.1% – Here’s What Happened

Shares of Arm Holdings plc (NASDAQ:ARM) were down 1.1% during trading on Thursday . The stock traded as low as $131.13 and last traded at $132.20. Approximately 1,728,098 shares were traded during trading, a decline of 84% from the average daily volume of 10,681,520 shares. The stock had previously closed at $133.70.

Analyst Ratings Changes

Several analysts recently commented on ARM shares. Needham & Company LLC restated a “hold” rating on shares of ARM in a research report on Thursday, November 7th. TD Cowen raised their price objective on ARM from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays increased their target price on shares of ARM from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on ARM from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Daiwa Capital Markets raised shares of ARM from a “neutral” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

ARM Price Performance

The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 220.34, a PEG ratio of 6.64 and a beta of 5.40. The business has a 50 day simple moving average of $143.65 and a 200-day simple moving average of $140.25.

ARM (NASDAQ:ARM) last issued its earnings results on Wednesday, November 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The company had revenue of $844.00 million during the quarter, compared to the consensus estimate of $810.03 million. ARM had a return on equity of 13.69% and a net margin of 18.13%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. As a group, equities analysts predict that Arm Holdings plc will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ARM. Transcendent Capital Group LLC bought a new stake in ARM during the 2nd quarter valued at approximately $33,000. ORG Partners LLC bought a new position in shares of ARM in the 3rd quarter worth approximately $29,000. RiverPark Advisors LLC grew its position in shares of ARM by 45.3% during the 2nd quarter. RiverPark Advisors LLC now owns 247 shares of the company’s stock valued at $40,000 after acquiring an additional 77 shares during the period. Mather Group LLC. bought a new position in shares of ARM in the second quarter worth about $41,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in ARM by 83.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 258 shares of the company’s stock valued at $37,000 after purchasing an additional 117 shares in the last quarter. 7.53% of the stock is owned by institutional investors.

ARM Company Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.